11th Principles of Accounting MCQS
The amount invested by the owner in the business to produce revenue is known as
Asset
Income
Liability
Capital
The transactions, the effect of which is not exhausted with in the current accounting year are called
Capital transaction
Current transaction
Monetary transaction
Revenue transaction
Expenditure, which helps to maintain the business efficiency is called
Deferred expenditure
Capital expenditure
Revenue expenditure
Future expenditure
Expenditure is revenue expenditure because
It is intended to benefit the current period
None of these
The amount involved is small
It is deducted from the gross sale proceeds
It is the price of goods sold or services provided by a business to its customers
Cost
Asset
Revenue
Capital
Google Ads